By IANS,
New Delhi : Tractors and construction equipment manufacturer Escorts Ltd Friday said it has registered a 21.2 percent increase in sales during the October-December quarter.
Escorts, which follows an October-September accounting year, said it sold 13,561 tractors in the first quarter, as against 10,135 in the corresponding period – a growth of 33.8 percent.
“The agri-machinery division revenue grew by 22.5 percent riding on market share gains by the new range of higher horse power tractors introduced last fiscal and a concerted push in designated markets,” chairman and managing director Rajan Nanda said.
The company’s net sales for the quarter under review was Rs.600.22 crore as against Rs.495.26 crore in corresponding period in 2008-09, it said in a regulatory filing.
It posted a net profit was Rs.23.4 crore during the quarter against a loss of Rs.34 lakh in the year-ago period.
Escorts also registered a 50-fold increase in profit before tax year-on-year at Rs.35.45 crore against Rs.70 lakh in the year-ago period.